Compliance & Regulation

President Obama's administration has joined Democratic and Republican lawmakers in attacking potential raises for the top executives of Fannie Mae and Freddie Mac.

The risk of mortgage lenders being victimized by fraud increased during the first quarter as economic conditions nationwide shift, according to a report from Interthinx.

The silver lining of the market crash was a unique opportunity for non-legislative reform that would not have otherwise come to bear.

Although mortgage servicers technically work for the investors that pay them, the state of the business today requires that they make consumers front-and-center in their operations.

Two House Financial Services Committee members introduced a bipartisan bill late last week that is designed to give lenders breathing room when new disclosure rules go into effect on Aug. 1.

The Department of Housing and Urban Development has rescinded a policy designed to help certain widowed spouses of reverse mortgage borrowers avoid foreclosure.

The Federal Housing Administration Single Family Housing Policy Handbook will now come into effect on Sept. 14, the Department of Housing and Urban Development announced Friday.

Banks want all loans held in portfolio to be classified as ultrasafe regardless of the underwriting characteristics or of a bank's asset size. But consumer activists and independent mortgage lenders are raising red flags ahead of possible Senate Banking action.

Ocwen Financial's shares jumped 19% to more than $10 a share as of late morning Friday, the day after it reported a first-quarter profit and highlighted an expansion into mortgage lending.

Ellie Mae reported net income of $3.6 million for the first quarter, up 350% from the same period a year ago.